Golden Predator Discovers High-grade Gold Mineralization on Rogue B Property, Yukon
WHITEHORSE, YT, Jan. 24, 2013 /PRNewswire/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce the results of its early stage soil and rock chip sampling programs from 2011 and 2012 from the Rogue A, B and F properties located in the central Selwyn (Figure 1).
On the Rogue B property, the Company has discovered an area of high-grade gold mineralization exposed over an area of approximately 1 km x 1 km that it is calling the Valley Gold area. The gold mineralization is associated with arsenopyrite-bearing quartz veins, breccias and stockworks hosted in Cretaceous quartz monzonite intrusive and peripheral siltstone and chert of the Paleozoic Road River and Earn Groups. A total of forty-eight rock chip samples were collected from the Valley Gold area and twenty-four (50%) returned values over 0.48 g/t gold. Twelve of the forty-eight rock chip samples (25%) returned gold values greater than 4.32 g/t gold with a high value of 152.0 g/t gold. The 2012 sampling program was guided by gold anomalous stream sediment samples from Golden Predator's 2011 generative program.
A table and location maps can be found on the Company's website at:
Rogue B Property
The Rogue B property is located in the Old Cabin Creek drainage immediately north of the Emerald Lake Pluton in the central Selwyn Basin, Yukon Territory (Figure 1). The property is being explored by the Company targeting gold mineralization, centered on and peripheral to, a cluster of mid-Cretaceous age plutons in the Emerald Lake area. Golden Predator's 2011 stream sediment program defined an area (~25 km2) of gold mineralization west of the small quartz monzonite pluton at Arrowhead Mountain. Sampling in 2011 and 2012 has identified three areas of gold mineralization along an 8 km east-west trend; the Valley Gold, Gracie and Arrowhead Pass areas (Figure 2). The continuity of gold mineralization along strike between the zones is currently unknown and the width of the zone is only locally constrained by sampling and ranges from 200 to 300 m.
Sampling at three areas over 1 km that generally parallels the sediment intrusive contact returned the following results at the Valley Gold area (Figure 3). The highest grade samples were collected 100 m from the intrusive contact in brecciated and silicified siltstone and chert with quartz veining and disseminated arsenopyrite with seven samples containing greater than 4.78 g/t gold with a high of 152.0 g/t gold.
A second sampling site, 200 m west of the seven high grade samples, returned values of 10.10 g/t gold and 5.06 g/t gold from quartz-arsenopyrite veins and stockworks hosted in quartz monzonite.
A third sampling site, approximately 600 m west of the second site is an outcrop of variably hornfelsed siliciclastics and quartz monzonite exposed in the valley floor. A channel sample from a quartz-arsenopyrite vein parallel to the quartz monzonite contact returned a value of 4.20 g/t gold over 8.12 m including 1.28 m of 12.20 g/t gold. A channel sample from an adjacent outcrop with arsenopyrite veinlets in shale returned a value of 4.32 g/t gold over 3.42 m. Chip samples from outcrops 65 to 70 m northwest and southeast returned values of 18.30 and 1.63 g/t gold from pyrrhotite hornfels and 3.55, 2.33 and 0.90 g/t gold from quartz veinlets, up to 10 cm wide, cutting quartz monzonite (Figure 3).
Approximately 300 m north of the intrusive contact an outcrop of clay altered siltstone with quartz-arsenopyrite stockworks adjacent to a quartz monzonite dike returned a value of 0.96 g/t gold over 4.0 m from a channel sample perpendicular to the strike of the dike (Figure 3).
The Gracie area is located 4 km east of the Valley Gold area and gold mineralization is localized along a northeast trending, steeply dipping fault zone cutting hornfelsed sediments of the Paleozoic Earn Group (Figure 2). A total of 144 rock chip samples were collected in 2011 and 2012 over an area of 1 km by 1 km and 105 samples returned values above detection (10 ppb) and 30 of the samples returned values greater than 0.40 g/t gold with a high value of 57.00 g/t gold. Gold mineralized talus/float samples have been collected on both sides of a steep arête for approximately one km along the strike of the structure. The 57.00 g/t gold sample was from silicified siltstone talus-float with quartz-arsenopyrite-pyrite stockworks.
The Arrowhead Pass area is located 3 km east of the Gracie area adjacent to a small quartz monzonite pluton. A total of 15 rock samples (float) were collected over an area of 0.5 km by 0.5 km and all returned values above detection (10 ppb gold) and six samples returned gold values greater than 1.00 g/t gold with a maximum value of 7.51 g/t gold. Soil samples (talus fines) collected along a 4 km soil contour line returned a continuous 700 m section of samples (50 m spacing) with values greater than 30 ppb gold. The gold mineralization occurs as quartz-arsenopyrite-pyrite-chalcopyrite veins in quartz monzonite and hornfels and as silicification with disseminated arsenopyrite in quartz monzonite.
Geologic mapping and gold geochemistry from the Rogue B property define an east-west trending zone approximately 8 km in length and an undetermined width with gold mineralization hosted in intrusive lithologies and in fine-grained, variably hornfelsed sediments proximal to the intrusive contact. Gold mineralization is associated with quartz-arsenopyrite veins and stockworks.
Rogue A Property
A total of 148 rock samples were collected from the Rogue A property with 88 samples returning values above detection (10 ppb gold) (Figure 4). The gold mineralization is believed to be intrusion related with elevated base metal and bismuth values. Mineralization consists of quartz-arsenopyrite stockworks and veins and replacement skarn developed in Cambrian age carbonate and volcanic lithologies peripheral to the mid-Cretaceous Old Cabin stock. Two samples returned values of 9.97 and 3.49 g/t gold from quartz-arsenopyrite veining in chert approximately 2.5 km from the intrusion. Sampling in the vicinity of the Horn Minfile occurrence 8 km west of the intrusion returned values of 3.22 and 1.52 g/t gold from tremolite-actinolite-chlorite skarn from a grab sample and a 1 m channel sample perpendicular to bedding respectively.
Rogue F Property
The Rogue F property is located 22 km northeast of the Rogue B property. A total of 575 ridge and spur, soil samples and 32 rock chip samples were collected from two separate areas in drainage basins with gold anomalous stream sediment samples. A total of 243 soil samples returned gold values above detection (10 ppb gold) and 23 samples had gold values greater than 50 ppb with a high value of 180 ppb. The soil samples with higher gold values also returned higher values of arsenic (163 ppm high), mercury (3.33 ppm high) and antimony (63.0 ppm high) that are commonly associated with Carlin style gold mineralization. Five rock samples returned values above detection (10 ppb) with a high of 20 ppb gold.
Stratigraphy on the Rogue F property consists of shale and chert lithologies of the Road River Group and lesser clastic/carbonate lithologies of the Hyland Group. Carbonate-rich lithologies within the Hyland Group host Carlin style gold mineralization to the northwest of the Rogue F block on claims held by ATAC Resources Ltd., Strategic Resources Ltd. and Anthill Resources Ltd.
Sampling Methodology, Quality Control and Assurance
Rock and soil samples were sent to the AGAT Laboratories ISO 9001 certified preparation laboratory in Whitehorse, Yukon where representative 250 gram pulps were prepared. The soil sample pulps were obtained from the -80 mesh size fraction. The pulps were analyzed at AGAT's ISO 9001 certified laboratory in Mississauga, Ontario. Blank and commercial standard samples were routinely inserted into the sample stream every 25 samples by the Company. The samples were analyzed using AGAT's 201 074 ICP-MS method which digests a 1 gram sample in hot aqua regia for one hour with analysis by ICP-MS. A total of 51 elements are reported. Gold and silver analytical ranges are 0.01-25 ppm and 0.01-100, respectively. All over-limit gold values are re-analyzed by a 30 gram Fire Assay with a Gravimetric finish.
The Company employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the field to the sample preparation facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results.
The technical content of this news release has been reviewed and approved by Michael Maslowski Bsc, CPG, the Company's Chief Operating Officer and a Qualified Person as defined by National Instrument 43‐101.
About Golden Predator Corp.
Golden Predator Corp. announced on January 18, 2013 a planned change of name to Gold Bullion Royalty Corp., in order to focus entirely on royalty and streaming by building on its existing portfolio of 34 projects. Our wholly owned subsidiary Golden Predator Canada Corp. will continue to advance the Brewery Creek Project as a separate entity to be divested to shareholders by spin-out or similar transaction.
Gold Bullion Royalty Corp. will focus on royalty and streaming assets providing revenue as well as lower risk exposure to shareholders through project diversity in first world jurisdictions. The Company's existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2 separate projects encompassing more than 34 square miles at Barrick's Bald Mountain project in Nevada.
The Company holds additional royalties including a Net Smelter Royalty on the Taylor Silver project and a portion of the Tonkin Springs project also in Nevada. The entire package comprises more than 100,000 acres located primarily in Nevada, with 7 of the projects located in Wyoming, Oregon, California and Mexico. Current royalty revenue is anticipated to experience acceleration as early as 2014 as several of these projects begin to advance. As Gold Bullion Royalty Corp., the Company's royalty portfolio is unique in the mineral development industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash).
Golden Predator Canada Corp. will remain the Yukon's Gold Company, and will be mandated to become the Yukon's next gold producer by advancing its 100% owned Brewery Creek Project with a production goal of 2014. The Company has an extensive exploration portfolio in the Yukon including advanced road accessible assets at Clear Creek, Grew Creek and Gold Dome along with the Cache Creek and Rogue projects in the Selwyn Basin. Golden Predator Canada Corp. will continue to have one of the largest controlled land positions in the Yukon, and is proud of their demonstrated commitment to strong relationships with First Nations and local communities.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
The mineral resource estimates referenced in this news release use the terms "Measured Mineral Resources" and "Indicated Mineral Resources." U.S. readers are cautioned that these terms are defined in and required by Canadian regulations, however these terms are not defined terms under guidelines prescribed by the U.S. Securities and Exchange Commission ("SEC"). The SEC normally only permits issuers to report mineralization that does not constitute SEC compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these resource categories will ever be converted into reserves, or that reserves reported in this news release equate to reserves as defined in SEC guidelines.
SOURCE Golden Predator Corp.